Form 4: Upwork Inc. Chief Accounting Officer Marie Olivier Reports Stock Transactions
SEC Form 4
Chief Accounting Officer of Upwork Inc., Marie Olivier, reports the vesting and sale of restricted stock units to cover tax obligations.
Summary
- Marie Olivier, Chief Accounting Officer of Upwork Inc., reported transactions involving common stock and restricted stock units (RSUs).
- On May 18, 2024, RSUs vested, resulting in the acquisition of 1,427 and 1,200 shares of common stock.
- Also on May 18, 2024, 1,427 and 1,200 RSUs were converted into common stock.
- On May 20, 2024, 998 shares were sold at a weighted average price of $11.6086 per share to cover tax withholding obligations.
- Following these transactions, Olivier directly owns 9,194 shares of common stock and 8,400 RSUs.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and does not contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive incentives with long-term company performance.
- Selling shares to cover tax obligations upon vesting of RSUs is a standard practice among executives in publicly traded companies.
- Similar transactions are regularly reported by executives at companies like Fiverr and Guru, which operate in the same industry as Upwork.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/18/2022 | Start date for vesting of 1,427 RSUs in equal quarterly installments over four years. |
| 05/18/2023 | Start date for vesting of 1,200 RSUs in equal quarterly installments over three years. |
| 05/18/2024 | Vesting date for 1,427 and 1,200 RSUs. |
| 05/20/2024 | Date of sale of 998 shares to cover tax obligations. |
| 05/21/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.